school loans
Date: Thu, 06/14/2012 - 11:17
:confused:I was in a 9 month payment program for my defaulted school loans (van rue credit corp.) after 9months of payments I was suppose to get a new lender and the loan default removed from my credit. I've paid 13months and have been given excuses abundent. They told me to stop paying and they would get in touch w/me once the system problems that they alleged the USDOE was having changing my statis was solved. After 6months I get a bill with more interest and unspecified fees you just wouldn't believe. I want to pay these loans off without filing a chapter 13 but these guys have me prisonered in thier system. The Dept of Ed. automatically referes me right back to Van rue Credit Corp when I try to get information. I don't know if who's really getting my money. And my payment activity has ever showed on my credit to show that i have done anything, I don't know what to do. HELP...any suggestions?
Quote::confused:I was in a 9 month payment program for my defau
Quote:
:confused:I was in a 9 month payment program for my defaulted school loans (van rue credit corp.) after 9months of payments I was suppose to get a new lender and the loan default removed from my credit. I've paid 13months and have been given excuses abundent. |
There have been some issues with the rehab program. This is not something within Van Rue's control.
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They told me to stop paying and they would get in touch w/me once the system problems that they alleged the USDOE was having changing my statis was solved. |
DO NOT stop paying. That would put you at risk for AWG and tax offset.
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After 6months I get a bill with more interest and unspecified fees you just wouldn't believe. I want to pay these loans off without filing a chapter 13 but these guys have me prisonered in thier system. |
Interest accrues daily and your account is subject to collection fees. Van Rue doesnt make up the numbers. As a student loan collection vendor their information comes from the federal guarantor.
Chapter 13 wont do anything for your student loan. Sure you can include it but as soon as a 13 is discharge, any remaining balance becomes due PLUS all the accrued interest is updated.
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The Dept of Ed. automatically referes me right back to Van rue Credit Corp when I try to get information. I don't know if who's really getting my money. And my payment activity has ever showed on my credit to show that i have done anything, I don't know what to do. HELP...any suggestions? |
You are in default....payments do not show as "current" on your credit report...your balance will go down if you are paying more than your monthly interest. Van Rue has been a DOE vendor for many many years...I can assure you you payments are being credited.
